The Moscow Jewelry Factory, the largest jewelry manufacturer in Russia announced its complete rebranding to mark its centenary and gave a new name to its retail chain – MIUZ Diamonds. The company said that the growing interest of its clientele towards diamonds was the impetus giving rise to a new vector of its development.
"In 2021, the company plans to actively develop its online store and increase its retail space by 25%," commented Anastasia Sarantseva, the company's development director. Currently, the MIUZ Diamonds retail chain includes more than 350 outlets throughout Russia, Belarus and Kazakhstan, including 250 of its own stores.
The company's sales increased by a third in the first quarter of this year reaching 3.8 billion rubles.
MIUZ Diamonds has one of the highest average tickets in the industry, which is growing thanks to the company's assortment policy. The most popular categories are jewelry pieces with diamonds and other precious stones, the demand for which increased by 50%, according to the Retail Loyalty web portal.
Alex Shishlo for Rough&Polished
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